Hod kyperskou kostkou

PRINCETON – Od počátku bylo jasné, že snadný úkol to nebude: uvalit ztráty v hodnotě kolem 5,8 miliardy eur na věřitele kyperské vlády a deponenty u tamních bank. Teď Evropu tato snaha zavedla do nejnovější slepé uličky.

Během maratonu vyjednávání kyperská vláda pod dohledem trojky (Evropská komise, Evropská centrální banka a Mezinárodní měnový fond) odsouhlasila jednorázovou „daň“ z bankovních vkladů. Navzdory dodatku, který měl osvobodit účty obsahující méně než 20 tisíc eur, však tento plán drtivou většinou odmítl kyperský parlament, čímž Kypr – a Evropu – uvrhl do nejistoty.

Velcí vkladatelé skutečně nejsou nepodobní seniorním držitelům dluhopisů a navržený sestřih byl sice drobným, ale vítaným krokem vpřed. Protože však nešel dostatečně daleko, zůstala po něm díra. Existovaly jiné možnosti. Lee Buchheit, ostřílený advokát specializovaný na svrchované dluhy, který měl být v jednacím sále přítomen, a Mitu Gulati z Dukeovy univerzity navrhli elegantní „reprofilaci“ 15 miliard eur kyperského suverénního dluhu, která by Kypru od finančního tlaku okamžitě ulehčila. Takové úvahy však byly smeteny ze stolu dřív, než vůbec rokování začalo.

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